Last week, with the DJIA at 13,866, we took a look at the potential for a double-top and a Dow Theory non-confirmation with the Transports [see: The Dow - Time to Double Down.]
Critical levels included the rising wedge upper bound, not to mention a whole slew of approaching Harmonic targets.
Don't look now, but DJIA is only a few points away from tagging the upper bound of the rising wedge, the 2.24 of a Crab Pattern (in white below), and the 1.272 of a Butterfly Pattern (red.)
The double-top up at 14,198 and some larger Harmonic patterns (14,145-14,201) are still a possibility, but this balloon looks ready to pop.
Pebblewriter.com combines Harmonic Patterns with traditional chart patterns and technical analysis. For more on our process and results, visit pebblewriter.com.
Critical levels included the rising wedge upper bound, not to mention a whole slew of approaching Harmonic targets.
Don't look now, but DJIA is only a few points away from tagging the upper bound of the rising wedge, the 2.24 of a Crab Pattern (in white below), and the 1.272 of a Butterfly Pattern (red.)
The double-top up at 14,198 and some larger Harmonic patterns (14,145-14,201) are still a possibility, but this balloon looks ready to pop.
Pebblewriter.com combines Harmonic Patterns with traditional chart patterns and technical analysis. For more on our process and results, visit pebblewriter.com.
